ITAT holds Section 94B disallowance discriminatory under India–Denmark DTAA; deletes entire interest limitation adjustment
The Chennai Tribunal in the case of Vestas Wind Technology India Pvt. Ltd. v. ITO* has held that disallowance u/s 94B of the Income-tax Act, 1961 (“the Act”) cannot be sustained since it violates the non-discrimination clause contained in Article 24(4) of the India–Denmark Double Taxation Avoidance Agreement (“DTAA”).